Category: Product

The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023.

The active rig count for the week ended Oct. 27 inched up in the US but edged down in Canada, according to oilfield services provider Baker Hughes.

With the aluminum industry assembled in Nashville, Tenn., for the Aluminum USA 2023 conference, word was breaking of a tentative deal between the United Auto Workers (UAW) and Ford.

CRU forecasts a stronger year for steel sheet demand in 2024 than in 2023 as growth continues in Asia and a recent period of contraction in the West ends.

U.S Steel posted sharply lower earnings as a result of a drop in steel prices and only modest gains in shipments. The Pittsburgh-based steelmaker said little about the sales process it launched in August.

Steel buyers said mills are less willing to budge on spot pricing for sheet products, but plate bucked this trend, according to SMU’s most recent survey data.

U.S. Steel on Thursday announced that it would increase spot prices for steel sheet by another $100 per ton.

Radius Recycling thinks that an end to the UAW strike could relieve pressure on a tight domestic scrap market. Scrap supplies have fallen because of lower manufacturing, construction, and demolition activity as well as “the slowing economy overall,” Radius chairman, president, and CEO Tamara Lundgren said. Inflation and higher interest rates have contributed to that […]

Ranger Steel Services has acquired the steel operations of Detroit-based heavy plate distributor Nance.

Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.

ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.

Nucor Steel held a groundbreaking ceremony on Friday for its Nucor Steel West Virginia sheet mill in Mason County, W.Va.

As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.

Annual contract negotiations between buyers and mills in the US flat-rolled steel market are picking up pace as both look to lock in volume for the coming year. As these contracts are finalized, we expect that changes in the market will impact how 2024 contracts are ultimately structured. The primary change in the market is […]

U.S. Steel on Thursday said it planned to increase spot base prices for steel sheet by at least $100 per ton ($5 per cwt).

Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).

Nucor Corp. aims to raise base prices for hot-rolled coil to a minimum of of $800 per ton ($40 per cwt).

Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.

The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data.

The latest data from oilfield services provider Baker Hughes shows the number of active rotary rigs in the US and Canada bounced back during the week ended Friday, Oct. 13.

The pig iron trade is an important element to the US steel and foundry industry.

Prime scrap prices were unchanged in October month over month, following a large Detroit-area buyer's lead, according to market sources.

Steel Dynamics Inc. (SDI) plans to take a four-day outage at its sheet mill in Butler, Ind., according to sources familiar with the matter.

Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.

Nucor was joined by Kentucky Gov. Andy Beshear for the steelmaker’s “grand opening” of its $1.7-billion Brandenburg plate manufacturing mill in the state.

The total active oil and gas drilling rigs in both the US and Canada dropped this week, according to the weekly report put out by oilfield services company Baker Hughes.

A large Detroit-area scrap buyer has settled scrap tags for October, with busheling scrap sideways, a source told SMU.

While the ongoing United Auto Workers (UAW) strike hasn’t had a significant impact on the scrap market, the strike's expansion to stamping plants could hit supply, sources tell SMU.

Sheet prices rose this week on the heels of a price increase announced by Cleveland-Cliffs last week that was quietly followed by other mills.

US plate prices have been relatively flat this year, especially when compared to sheet products. Case in point; SMU's plate prices stands at $1,455 per ton ($72.75 per cwt) on average, down 7% from a $1,560 per ton peak in April. Our HRC price is at $645 per ton, down 44% from an April peak of $1,160 per ton.